According to the Pickleball Product Group Overview report from June 8, 2024 to September 5, 2024 by market research company Metric, the pickleball market is growing at a dizzying speed. The report analyzes data on 5 e-commerce platforms Shopee, Lazada, Tiki, Sendo and TikTok Shop.
With nearly 150,000 products successfully delivered, total revenue from the pickleball industry, including products with the keyword "pickleball", reached VND22.7 billion, up 149.5% over the previous quarter.
In less than a year, pickleball has become a sporting phenomenon, attracting millions of participants.
"Customers who buy Pickleball equipment come from badminton, tennis, table tennis, golf, and especially office workers who have never played sports. On average, a person needs to spend about 1.5 million VND on equipment to be able to go to the field. Racket prices vary, from a few hundred thousand to tens of millions of VND," one of the owners of stores selling equipment for this sport shared on social media.
The pickleball market is witnessing an unprecedented consumer fever. Vietnamese players are not only passionate about this sport but are also willing to invest a large amount of money to own high-quality products. From high-end rackets, fashionable sportswear to the smallest accessories, all are sought after by players and are willing to pay quite high prices.
The boom of this sport has led to the strong development of the related sports equipment market.
Sports equipment, including rackets, balls and other accessories, is the main product group that accounts for the largest proportion of revenue in the pickleball market. This shows that players in Vietnam pay great attention to investing in the quality of equipment to have the best experience.
The growth of the pickleball market has also attracted the attention of businesses. The number of online stores participating in pickleball-related businesses has grown significantly, reaching 568 stores. This number demonstrates the business community's acumen in capturing trends and exploiting the potential of the promising pickleball market in Vietnam.
From rackets, balls, specialized shoes to accompanying accessories, all have become "hot" items that are eagerly sought after.
With a budget of 1-5 million VND/product, players can invest in quality products. This segment recorded revenue of about 3.1 billion VND, showing the significant demand of players to upgrade their pickleball experience.
Born in 1965 in Washington (USA), Pickleball is a racket sport, combining elements of tennis, badminton and table tennis. This sport is played on a smaller court than a tennis court and uses a light, small-pocketed ball. Pickleball appeared in Vietnam in 2018 but has only become a "fever" since the beginning of the year.
Pickleball fever creates many changes in our country's market
The number of players in Hanoi and Ho Chi Minh City has increased hundreds of times compared to the end of 2023. If table tennis takes 5 years to play, tennis takes 2-3 years, pickelball only needs 5-10 lessons to play.
“Pickleball is a ‘unicorn’ sport that has the ability to appeal to all walks of life and create a buzz in the retail market. This is something that few sports can do,” Adam Franklin, President of sportswear brand Franklin Sports, commented on the sport’s appeal.
